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A linear probability model for beer demand

To see how much of an effect changes in the price ratio have on the purchases probabilities of Hoppiness, you describe the relation HOPPINESS ~ price.ratio by using the function lm(). This time, you also directly graph the estimated model by using the functions plot() and abline().

Cet exercice fait partie du cours

<cours>Building Response Models in R</cours>
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Instructions de l’exercice

  • Use the function lm() to explain the purchase probabilities for HOPPINESS by price.ratio. Assign the result to an object named probability.model.
  • Display the relation between HOPPINESS and price.ratio by using the function plot().
  • Add the model predictions by applying the function abline() to the probability.model object.

Exercice interactif pratique

Essayez cet exercice en complétant ce code d’exemple.

# Explain HOPPINESS by price.ratio
probability.model <- lm(___, data = choice.data)

# Plot HOPPINESS against price.ratio
___(___, data = choice.data)

# Add the model predictions
___(___)
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